Multiple choice

Calculate the amount and the compound interest on Rs. $6,000$ in $3$ years at $5\%$ per year.

  1. Rs. 6,945.75 and Rs. 945.75

  2. Rs. 6,845.75 and Rs. 945.75

  3. Rs. 6,945.75 and Rs. 945.85

  4. Rs. 6,945.75 and Rs. 945.70
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A Correct answer
Explanation

Amount = P(1 + r/100)^n = 6000(1.05)^3 = 6000 * 1.157625 = 6945.75. Interest = 6945.75 - 6000 = 945.75.

AI explanation

Using the compound interest formula A = P(1 + R/100)^N, the amount after 3 years is 6000(1 + 5/100)^3 = 6000(1.157625) = Rs. 6945.75. The compound interest is the amount minus the principal, which is 6945.75 - 6000 = Rs. 945.75. The result is Rs. 6945.75 and Rs. 945.75.

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